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Re: Why do you get taxed on savings?
[Re: Remington270]
#2770173
03/25/19 09:10 AM
03/25/19 09:10 AM
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Joined: Dec 2013
Posts: 22,703 Lickskillet, AL
Irishguy
a.k.a. Dingle Johnson
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a.k.a. Dingle Johnson
Joined: Dec 2013
Posts: 22,703
Lickskillet, AL
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I have long since thought that if we could would abolish payroll deductions and instead make everyone write a big fat check to the government at the end of the year so it was painful as all hell, people would be marching on Washington to make damn sure where every last penny of that money was spent, but the way it is now people just accept it for what it is and have given up any semblance of hope that their tax dollars are going to be spent wisely.
It would be mass chaos. Folks can't even save up a few hundred dollars a month for retirement, it would be carnage to watch folks try and scrounge up $5-$20k to pay federal income taxes. Oh yeah. I agree. Most people are very financially irresponsible and there is no way people could be counted on to "put back" money for taxes. But it would be fun to watch the carnage ensure for at least one year.
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